Uranium is mostly used
in nuclear power plants to generate electricity. The rising demand for
electricity and the capacity of nuclear reactors is driving the uranium market.
The global uranium market is expected to witness significant growth in next six
years. Nearly 75% of uranium supply is through mining activity and it is
expected to grow further in the coming years.
Other secondary sources
of uranium include civil stockpiles, recycled uranium, and ex-military
weapons-grade uranium. It is expected that there will be a balance between the
demand and the supply as the number of new reactors being constructed and old
plants retiring is nearly the same.
In the next six years,
it is expected that China, Russia, India, the Middle East, and Europe will
expand their use of nuclear energy, creating intense competition for mined
uranium. China and Russia are the fastest growing markets and they have already
started buying huge stakes in uranium mining operations.
In 2011, after the
incident of Fukushima Daiichi reactor owing to Japan’s tsunami and earthquake,
the uranium market might witness slow growth. Shortage of uranium may be
experienced in the next few years in spite of the abundance of uranium in the
earth’s crust, but it takes many years to build and finance uranium mining
operations.
Some of the major
factors driving the market are the growing demand for nuclear energy, the
economic advantage associated with uranium production, oil price fluctuations,
and increased awareness regarding reducing carbon emissions.
The global uranium
industry is highly concentrated as very few players are operating in relatively
few countries. Russia’s Rosatom and Kazakhstan’s Kazatomprom have entered into
a joint venture to dominate the uranium market. Some of the key participants in
the market are Cameco Corp., African Energy Resources Ltd, Energy Resources of
Australia Ltd, American Uranium Corp. Inc., National Atomic Company Kazatomprom,
China National Nuclear Corp., Gulf Mines Ltd., and JOGMEC.
This research report
analyzes this market depending on its market segments, major geographies, and
current market trends.
Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides
comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming
years
This report is a
complete study of current trends in the market, industry growth drivers, and
restraints. It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing market
players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point
analysis for changing competitive dynamics
- It provides a forward looking
perspective on different factors driving or restraining market
growth
- It provides a technological growth
map over time to understand the industry growth rate
- It provides a seven-year forecast assessed
on the basis of how the market is predicted to grow
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